H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and H^fjALRtf* ?>• Condition Statement of F.R. Banks For immediate release March 23, 1967 The average of daily figures of total member bank reserves held during the week ended March 22, increased a net of $4l6 million to $23,704 million. Estimated currency and coin of member banks decreased $35 million and their reserve balances at the Federal Reserve Banks increased $451 million. Estimated required reserves increased $224 million; and estimated excess reserves increased $192 million to $579 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $277 million, compared with the revised figure of $2l4 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $393 million in Federal Reserve float, $250 million in U. S. Government securities bought outright, and $129 million in member bank borrowings, and a decrease of $70 million in "other" F. R. accounts (net). The principal offsetting change was a decrease of $348 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $676 million. As of Wednesday, March 22, 1967, holdings of U. S. Government securities bought outright were $183 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $79 million higher, and member bank borrowings were $168 million lower. Average of daily figures_ Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 22, Mar. 15, Mar. 23, Mar. 22, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 44,378 +250 H4, C67 44,478 Held under repurchase agreements 328 - 28 H 328 394 Special Certificates - 64 Federal Agency obligations— Held under repurchase agreements 11 11 7 Acceptances-- Bought outright 71 6 68 Held under repurchase agreements 9 4 Discounts and advances— Member bank borrowings 302 +129 - 3C0 111 Other 21 Float 1,858 +393 - 229 1,521 Total Reserve Bank credit ^6,9^7 TUfE +3,754 46,579 Gold stock 13,108 + 1 - 596 13,109 Treasury currency outstanding 6,1+83 + 20 + 774 6,483 66,539 +3,933 £67171 Currency in circulation ^3,718 - 35 +2,259 43,759 Treasury cash holdings 1,304 + 21 + kki 1,322 Treasury deposits with F. R. Banks 592 +3^8 + 86 297 Foreign deposits with F. R. Banks 137 + 2 3 1^4 Other deposits with F. R. Banks ^36 - 18 + 133 431 Other F. R. accounts (net) 6o4 - 70 - 75 599 46,791 +247 +2,841 4T75S2 Member bank reserves: With Federal Reserve Banks 19,7^7 +1+51 +1,091 19,6?0 Currency and coin (estimated) 3,957 - 35 + 217 4,410 Total reserves held 23,704 T4T6* +17308 24,040 Required reserves (estimated) +1,100 23,269 23,125 +224 Excess reserves (estimated) + 208 -51 579 +192 On March 22, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,584 million, an increase oi' $l47 million for the week and a decrease of $129 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar. 22, Mar. 15, Mar. 23, 1967 1967 1966 A S S E TS Gold certificate account 10,778 - 6 - 774 Redemption fund for F. R. notes 1,823 - 5 + 111 Total gold certificate reserves 12,601 - 11 - 663 Cash >9D 344 - 1 + l42 Discounts and advances ill -167 - 588 Acceptances: Bought outright 68 - 2 8 Held under repurchase agreements - 153 Federal Agency obligations— Held under repurchase agreements u S. Government securities: Bought outright— Bills 12,576 +183 +3,555 Certificates 4,351 +4,339 Notes 21,3^2 -3,584 Bonds 6.209 - 362 Total bought outright 44,478 +183 +3,948 Held under repurchase agreements 394 + 79 + 394 Total U, S. Government securities 44,872 +262 +4,342 Total loans and securities + 88 +3,6oo 45,058 Cash items in process of collection (1,984) 7,916 +281 + 945 Bank premises 108 + 6 Other assets l/ 781 + 29 + 135 TOTAL ASSETS/LIABILITIES & CAPTIAL ACCOUNTS (2,675; +386 66,8J8 +4,165 L I A B I L I T I ES Federal Reserve notes (691) 38,433 34 +1,972 Deposits: Member bank reserves 19,630 +272 + 931 U. S. Treasurer--general account 297 -155 - 136 Foreign 134 + 6 2 Other 2/ 431 - 24 + 110 Total deposits 20,492 + 99 + 903 Deferred availability cash items (1,984) 6,395 +288 +I,2u7 Other liabilities and accrued dividends 223 - 5 + 30 TOTAL LIABILITIES (2,675) 65,543 +348 +4,112 C A P I T AL A C C O U N TS Capital paid in 578 + 1 + 19 Surplus 570 + 19 Other capital accounts 117 + 37 + 15 Eatio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.2$ - 3.2$ Contingent liability on acceptances purchased for foreign correspondents 218 + 13 + 89 * Figures in parentheses are the eliminations made in the consolidating process. l/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 22, 1967 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U, S. Government securities and Discounts and Federal Agency obligations advances Ac<^ eptances Holdings Weekly changes Within 15 days 106 15 2/j6l +189 16 days to 90 days 5 53 12,u94 - 56 91 days to 1 year -- — 19,367 +125 Over 1 year to 5 years — 10,103 — Over 5 years to 10 yeairrss — 853 — Over 10 years -- -- h02 -- Total 111 68 44,88i +258 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 22, 1967 San Total ^Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions; of dollars) A S S E TS Gold certificate account 10,778 . 633 2,339 587 857 907 527 2,025 356 236 426 442 1,443 Redemption fund for F. R. notes i 1,823 103 438 95 152 152 101 338 63 32 72 61 216 Total gold certificate reserves | 12,601! 736 2,777 682 1,009 1,059 628 2,363 4i9 268 498 503 1,659 P. R. notes of other Banks 691 ! 5^ 172 33 95 ^7 70 65 20 10 20 41 64 Other cash 3W 11 40 8 57 19 42 50 33 8 17 19 4o Disccunts and advances i in 24 7 -- -- 10 # 34 # 2 20 4 10 Acceptances: Bought outright ! 68 -- 68 Held under repurchase agreements -- -- — — Federal Agency obligations-- Held under repurchase agreements i 7 U. S. Government securities: Bought outright— Bills 12,576 666 3,159 647 989 913 704 2,097 455 250 488 500 1,708 Certificates ? M51 231 1,092 224 3^2 316 244 725 157 87 169 173 591 Notes ! 21,3^2i 1,130 5,359 l, C98 1,679 1,551 1,196 3,558 771 425 827 848 2,900 Bonds ! 6,209! 329 1,559 320 488 451 3^8 1,035 224 123 24i 247 844 Total : kh,k7& 2,356 11,169 2,289 3,^98 3,231 2,492 7,415 1,6(7 885 1,725 1,768 6,043 Held under repurchase agreements 39^ | 394 — -- -- -- -- -- -- -- -- -- Total U. S. Government securities W-,872 2,356 11,563 2,289 3,^98 3,231 2,492 7,415 1,607 885 1,725 1,768 6,043 Total leans and securities 45,058 2,380 11,645 2,289 3,^98 3,241 2,492 7,449 1,607 887 1,745 1,772 6,053 Cash items in process of collection 9,900 687 1,692 619 696 849 871 1,585 475 287 607 544 988 Bank premises 108 3 10 2 5 6 20 19 9 3 12 10 9 Other assets l/ 781 28 370 28 46 37 32 87 20 11 22 25 75 TOTAL ASSETS 69,^83 3,899 16,706 3,661 5,4c6 5,258 4,155 11,618 2,583 1,474 2,921 2,914 8,888 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 22, 1967 New Phila Cleve Rich St. Minne-' Kansas San Total Boston York delphia land mond Atlanta Chicag B o 1 I T Lou '. is apolisI City Dallas Fran cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,124 2,343 9,068 2,249 3,215 3,609 2,190 7,071 1,433 695 1,475 1,248 4,528 Deposits: Member bank reserves 19,630 801 5,538 795 1,382 851 1,066 2,899 671 48o 889 1,066 3,192 U. S. Treasurer—general account 297 23 6 19 25 8 46 9 49 20 14 38 4o Foreign 134 6 1/ 38 7 12 7 8 19 4 3 6 7 17 Other 431 1 g/357., l Total deposits 20,492 831 5,939 822 1,41*9 87160 1,1222 2,9229 72l5_ 50*3 911 2 1,112 l 3,30 5 3 4 Deferred availability cash items 8,379 653 1,310 513 644 689 754 1,393 373 24l 471 473 865 Other liabilities and accrued dividends 223 11 61 11 17 16 12 37 8 5 8 28 TOTAL LIABILITIES 68,218 3,838 16,378 37595 57295 5,190 4,078 11,430 27539 IT7^ 27BE5 27852 87F2T" CAPITAL ACCOUNTS Capital paid in 578 I 28 149 30 52 3^ 36 85 20 14 26 34 74 Surplus 57^ I 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 117 b 31 6 8 8 20 2 5 5 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 69,483 1 3,899 16,706 3,661 5,406 5,258 4,155 11,618 2,583 1,474 2,921 2,914 8,888 Contingent liability on accept ances purchased for foreign correspondents 10 2/ 56 11 20 11 14 32 5 10 13 28 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 9,535 2,302 3,^67 3,734 2,329 7,3^8 1,504 722 1,544 1,344 4,774 Collateral for F. R. notes: Gold certificate account l,00u 483 600 74o 450 1,1*00 300 127 225 180 735 Eligible paper U. S. Government securities 8,900 2,000 3,000 3,035 2,050 6,150 1,310 615 i,4oo 1,230 4,6oo Total collateral 2,466 9,900 2,483 3,6oo 3,775 2,500 7,550 1,610 742 1,625 l,4lo 5,335 l/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000. _3_/ After deducting ipl62 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis